Purchased for $1.62 million in August of 2015, the 1,845-square-foot loft unit #106 in the historic Theatre Lofts building at 560 Haight Street, a “chic industrial” conversion which “features double height windows, steel beams, vintage polished concrete and great ceiling volume,” returned to the market priced at $1.695 million this past September, a sale at which would have represented total appreciation of 4.6 percent for the unit over the past three years.

And having been reduced to $1.599 million in October, the sale of 560 Haight Street #106 has now closed escrow with a contract price of $1.55 million, down 4.3 percent ($70,000) versus its 2015 price on an apples-to-apples, versus “median price,” basis.

Well, from the agent’s website, there’s this parenthetical (from the link above): legality of 3rd bedroom not warranted by seller or agents. The developer probably thought he could get more interest with a three bedroom listing and went ahead without permits, because that’s how :”the game” works in SF.

Presumably the theater was the rear portion. The front portion on Haight was the entrance and probably things like concession stand/bar, restrooms, coat check, administrative office, etc. It must have been a big fancy place in its day.

If there is truly an entry on the lowest level, would it make sense to close up the stair access, remodel the larger bedroom into a kitchen and living area and covert it to another separate unit? As it is, that level doesn’t really add anything to the upper two floors.